Energy laws deal with the study of laws managing energy resources industry and energy market of an economy. Energy commodities like Coal, Oil, Natural Gas, Electricity, Nuclear energy etc are the driving forces of a country’s economy. With increasing population and increasing modernisation the demand for energy increases. The upstream and downstream of fossil fuels such as Coal, Oil and Natural Gas are transferred through international waters from fossil fuel rich countries to countries with less or no resource at all with international laws in place. Three steps are involved in electricity market like Generation, Transmission and Distribution, in our country alone many private players are involved in electricity market and they made agreements with the government to produce and transmit the electricity to them. These are part of energy laws and these laws help in taxing the commodity, curbing the illegal practices and quantifying the quality of the product. In India we have laws for resources like electricity, water, air etc., which help in managing the energy economy. And with a rising concern over our damaging environment our country has made many laws to protect the ecosystem. Renewable energy is the future and to make India, a Renewable energy driven economy, our country works on many levels to successfully pass laws and amendments.
Energy laws deal with the study of laws managing energy resources industry and energy market of an economy. Energy commodities India ranks sixth in the world in terms of petroleum demand in which only 30% of the oil we use to extract the rest 70% of the demands in India is met through import of crude oil which again can be possible through the laws of both the countries.
Ever since India's economic liberalization programme started, Indian Energy Sector has gone through so many changes as in the last several years were radical restructuring of this sector in India.
The recent action were taken to enable private oil companies, both foreign and Indian, to explore new reserves in India of crude oil and gas which can be a tremendous help in the establishment of this sector on a global level.